This document corrects and replaces in its entirety the previous release that was issued byearlier today, October 13th, 2022 at 5:39pm ET.
Vancouver, British Columbia–(Newsfile Corp. – October 13, 2022) –( ) (“Southern Silver”) reports that it has filed on SEDAR its National Instrument 43-101 Technical Report titled Preliminary Economic Assessment of the Cerro Las Minitas Project, Durango State, Mexico, dated October 13, 2022 (the “Technical Report”). The report was authored by M3 Engineering & Technology Corp. (“M3”), Kirkham Geosystems Ltd. (“KGL”), Entech Mining Limited (“Entech”), and Metallurgical Process Consultants Limited (“MPC”).
Filing of the Technical Report follows Southern Silver’s news release issued August 29th, 2022 announcing the results of its Preliminary Economic Assessment (“PEA”) on its 100% owned Cerro Las Minitas Project, Durango State, Mexico.
Robust Project Economics: an after-tax NPV8% of US$220M (C$302M); after-tax NPV5% of US$349M (C$480M) and project IRR of 17.9% (using base-case metal pricing of Ag- $21.95/oz, Cu – $3.78/lb, Pb – $0.94/lb and Zn – $1.33/lb);
Large-Scale Underground Mining Operation with a 15-year mine life with an annual average plant feed of 14.2 Mozs AgEq (inc. 5.8 Mozs Ag);
High-Revenue Project: Base Case gross revenues total US$3.7B with silver representing 42% of revenues, zinc representing 39% of revenues. The project has an Initial CapEx of US$341M;
Well Located Project in a mining friendly jurisdiction with excellent infrastructure in southeast Durango state, Mexico; and
Further Exploration Upside: Drilling through to August 2022 has confirmed mineralized extensions to the Mina La Bocona and Skarn Front deposits that have not been incorporated into the current Resource Model. Other deposits remain open laterally and to depth and remain to be explored.
is an exploration and development company with a focus on the identification of world-class mineral deposits in major jurisdictions, advancing them either directly or through joint-venture relationships. Our specific emphasis is on advancing the 100% owned Cerro Las Minitas project, one of the world’s largest undeveloped silver-lead-zinc deposits, to a production decision.
Southern has assembled a team of highly experienced technical, operational and transactional professionals to support our efforts in developing (recent robust PEA) the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. Our property portfolio also includes the Oro porphyry copper-gold project where a diamond drill program is underway and the Hermanas gold-silver vein project where permitting applications for the conduct of a drill program is underway; both are located in southern New Mexico, USA.
On behalf of the Board of Directors
Lawrence Page, Q.C.
President & Director,
The PEA for the Cerro Las Minitas project as summarized in this release was completed by Kirkham Geosystems Ltd. (“KGL”), M3 Engineering & Technology Corp. (“M3”), Entech Mining Limited (“Entech”), and Metallurgical Process Consultants Limited (“MPC”). The full Technical Report is available on Southern Silver’s website and on SEDAR under
The scientific and technical content of this news release was reviewed and approved by Robert Macdonald, MSc. P.Geo, VP. Exploration, a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions.does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/140514
BMEX Extends Gold Corridor, Makes New Gold Discovery and Reports Base Metals Intersections at Dunlop Bay
Vancouver, British Columbia–(Newsfile Corp. – February 9, 2023) – BMEX Gold Inc. (TSXV: BMEX) (OTCQB: MRIRF) (FSE: 8M0) ("BMEX" or the "Company") is pleased…
Endurance Reports Drill Results from Imperial Zone Extends Strike to 135 M with 3.63 gpt Gold over 5.0 M and 3.52 gpt Gold over 14.1 M
Vancouver, British Columbia–(Newsfile Corp. – February 9, 2023) – Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG) (the "Company")…
Kuya Silver Signs Toll-Milling Agreement To Produce Silver-Lead and Zinc Concentrates From The Bethania Project
Vancouver, British Columbia–(Newsfile Corp. – February 9, 2023) – Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya…
Honey Badger Silver Announces Management Changes
GFG Expands High-Grade Gold Mineralization at Montclerg including 8.46 g/t Gold over 5.0 Metres
Tearlach Engages Drill Contractor for Phase 1 Drill Program at The Gabriel Lithium Project in Nevada
Prismo Metals Files Drilling Permit Application for Los Pavitos
Avrupa Minerals to Continue Positive Progress in Finland, Portugal, and Kosovo in 2023
Alianza Minerals Reprices Warrants and Announces Warrant Exercise Incentive Program
Galantas Gold Drills 22.5 Grams/Tonne Gold Over 2.7 Metres Within a 11.5-Metre Intersection
Ero Copper to Release Full Year and Fourth Quarter 2022 Financial and Operating Results on March 7, 2023
Fission Appoints Sustainable Mining Expert to the Board
Cross River Announces Final Tranche Closing of Private Placement Financing
Energy & Critical Metals23 hours ago
Newmont’s $24B Grab for Newcrest Highlights the Majors’ Increased Interest in Copper
Companies22 hours ago
enCore Energy Closes C$34.5m Public Offering
Financing News24 hours ago
Wellfield Closes Acquisition of Tradewind Markets and Private Placement – Creates Transformational Platform for Precious Metals Investors and Producers
Precious Metals17 hours ago
China Continues With Its Gold Buying Spree
Uncategorized20 hours ago
Ultra Lithium drills 2.68% Li2O over one metre at Forgan Lake, Ontario
Companies23 hours ago
Nevada Set to Become Lithium Capital of America as Industry Heats Up
Energy & Critical Metals23 hours ago
Canada Nickel Sees Anglo American Take 9.9% Stake As Part Of Offtake Deal
Companies16 hours ago
Drill Results Support US$88M Valuation for Mining Project